FirstEnergy Corporation, a diversified energy company headquarter in Akron, OH, announced its intention to separate itself from the business of its competitive energy subsidiary, FirstEnergy Solutions Corp, and its related subsidiaries (FES). Kramer Levin was retained by holders of more than $2 billion in FES debt in connection with a potential restructuring of FES and the parent company’s separation. Kramer Levin has been actively involved in conducting due diligence and continuing a dialogue with FES regarding restructuring options and scenarios.